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Form FRr-283 STATEMENT FOR THE PRESS Released for publication Friday morning, April 22; not earlier« Board of Governors of the Federal Reserve System April 21, 1938 CONDITION OF FEDERAL RESERVE BANKS During the week ended April 2Q.member bank reserve balances increased $75,000,000. Additions to member bank reserves arose from decreases of $1,378,000,000 in Treasury cash and $19,000,000 in money in circulation and in creases of $16,000,000 in gold stock and $5,000,000 in Treasury currency, offset in part by increaes of $1,287,000,000 in Treasury deposits with Federal Reserve banks and $37,000,000 in nonmember deposits and other Federal Reserve accounts, and a decrease of $19,000,000 in Reserve bank credit. Following a decrease of approximately 133:percent in reserve requirements of member banks, which became effective April 16, aggregate required reserves of member banks decreased about $690,000,000 during the week ended April 20, and excess reserves increased from approximately $1,730,000,000 on April 13 to $2,-490,000,000 on April 20* During the week the $1,183,000,000 held by the Treasury in the inactive gold account was deposited in the Federal, Reserve banks« Principal changes in Federal Reserve bank holdings of bills and securities were a decrease of $108,000,000 in United States Treasury bonds and increases of $19,000,000 in Treasury notes and $89,000,000 in Treasury bills. Changes in member bank reserve balances and related items during the week and the year ended April 20, 1938, were as follows* Increase or decrease since April 20 1938 April 13 1938 April 21 1937 (in millions of dollars) Bills discounted Bills bought U, S. Government securities Industrial advances (not including 13 million commitments - April 20) Other Reserve bank credit Total Reserve bank credit Gold stock Treasury currency Member bank reserve balances Money in circulation Treasury cash Treasury deposits with F. R. banks Nonmember deposits and other F, R, accounts 10 1 2,564 ~3 — +2 -2 +77 17 -8 — -16 -6 -10 2,583 12,84-1 2,688 -19 +16 +5 +60 +1,104 +148 7,5^7 6,361 2,164 1,428 612 +75 -19 -1,378 +1,287 +37 +670 -27 -750 +1,309 +108 Form FR-283—a Released for publication Friday morning, April 22,1938? not earlier. ASSETS AND-LIABILITIES OF THE TWELVE FEDERAL RESERVE BANKS COMBINED (in thousands of dollars) Apr. 20. 1938 Apr. 13. 1938 Apr. 21.1937 10,642,413 8,860 452.812 11,104,085 9,245,002 9,140 .452,036 9,706,178 8,843,903 9,776 282.306 9,135,985 6,472 ... 2j068 9,5^0 550 17,056 9,730 12,924 550 16,887 6,260 .... 1*422 7,692 3,^65 23,084 677,831 1,179,171 . 707,012 2,564,015 785,588 1,160,691 617,736 2,564,015 688,621 1,174,343 623,619 2,486,583 2,591,161 170 19,952 578,264 44,804 44.400 2,520,824 230 23,904 693,276 45,869 43,944 14,382,836 2,594,376 170 16,632 663,496 44,806 47.978 13,073,636 12,464,032 4,120,798 4,136,806 4,184,068 7,547,076 1,427,718 135,486 213,212 9,323;492 586,356 133,489 147,739 27,683 32,915 10.364 7,472,143 l4o>874 118,010 198,604 7,929,631 655,841 133,495 147,739 27,683 32,950 9,491 6,876,640 118,631 99,234 145*730 7,240,285 651,279 132,136 145,854 27,¿90 36.142 „6,728 14,382,836 13,073,636 12,464,032 ASSETS Gold certificates on hand and due from U. S. Treasury . . . . . . Redemption fund - F.R. notes . . . . Other cash Total reserves............ . Bills discounted: Secured by U.S.Gov’t obligations, direct or fully guaranteed . . . . Other bills discounted . . . . . . Total bills discounted . . . . . . Bills bought in open market . . . . Industrial advances U.S. Government securities: Bonds Treasury notes ... ......... Treasury bills . . . . . . . . . . Total U.S. Government securities . Total bills and securities . . . » Due from foreign banks F. R. notes of other banks . . . . . Uncollected items . . . . . . . . . Bank premises All other assets......... . TOTAL ASSETS ......... LIABILITIES F. R. notes in actual circulation . Deposits: Member bank - reserve account ... U.S.Treasurer - General account , . Foreign bank . . . . . . . . . . . Other deposits .............. Total deposits ... ...... Deferred availability items . . . . Capital paid in ............. . Surplus (Section 7) ........... Surplus (Section 13 b) ......... Reserve for contingencies ...... All other liabilities ......... TOTAL LIABILITIES ...... ^atio of total reserves to deposit and F. R. note liabilities combined Contingent liability on bills purchased for foreign correspondents . . . . 82.6% 1,103 523 Commitments to make industrial advances 12,825 12,982 80.4% 80.0% -17,530 Form FR-283-b ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 20, 1938 (In thousands of dollars) A S SET S Total Boston New York Phila. Cleve.t HXCllr« Atlanta Chicago St.Louis ‘Minn. Kans.Cy. Dallas San Fran, Gold certificates on hand and due from U. S. Treasury 10,642,413 562,580 4,511,302 547,306 720,165 292,250 247,561 1,953,871 307,780 207,071 290,991 203,481 798,055 374 594 1,434 8,860 1,256 Redemption fund — F.R. notes 723 1,126 360 450 430 445 909 759 Other cash 452,812 45,094 112,132 32,605 42,310 30,289 17,328 67,294 14,903 9,269 29,122 13,535 38,931 Total reserves 11,104,085 608,048 4,624,690 580,670 762,925 323,262 266,015 2,021,610 323,277 217,249 320,473 217,446 838,420 Bills discountedi Secured by U,S.Gov*t obligations, -— direct or fully guaranteed 686 781 122 200 72 6,472 111 338 I83 2,332 1,112 535 Other bills discounted 3,068 158 4l4 42 346 40 211 321 312 15 295 719 195 1,032 24 1,738 Total bills discounted Bills bought in open market Industrial advances U. S. Government securities* Bonds Treasury notes Treasury bills 677,831 48,897 1,179,171 85,063 707,013 51,002 197,177 55,656 65,000 343,012 96,820 113,078 205,666 58,052 67,799 37,006 29,454 64,374 51,240 38,599 30,722 73,292 31,517 23,363 32,947 25,718 57,804 127,500 54,829 40,643 57,315 44,740 100,557 76,447 32,874 24,369 34,365 26,825 60,293 Total U,S.Gov*t securities 2,564,015 184,962 745,855 210,528 245,877 139,979 111,416 277,239 119,220 88,375 124,627 97,283 218,654 Total bills and securities Due from foreign banks F. R, notes of other banks Uncollected items Bank premises All other assets 2,591,161 188,437 12 170 19,952 569 578,264 56,223 44,804 2,987 44,400 2,724 753,359 215,581 247,503 142,773 112,306 6 16 7 17 65 1,718 1,820 4,369 1,080 1,331 148,683 48,153 57,488 47,863 22,738 2,680 2,106 9,923 4,794 6,177 13,092 4,186 4,858 2,736 1,935 278,204 119,534 88,970 125,516 98,489 220,489 21 2 2 12 5 5 1,256 516 2,679 1,418 1,351 1,845 75,103 24,955 16,566 28,058 22,898 29,536 4,558 2,329 1,506 3,136 1,288 3,320 4,083 1,808 1,592 1,948 1,571 3,867 TOTAL ASSETS 9,540 550 17,056 939 4l 2,495 2,653 215 4,636 1,831 56 3,166 730 51 845 752 19 119 215 68 682 151 3 160 42 2 551 417 16 456 283 16 907 495 39 1,301 14,382,836 859,000 5,554,181 354,4811£8Q298 521,039 4o6,926 2,386,258 473,323 327,236 480,392 342,213 ip97,489 Form FR—283—c ASSETS AND LIABILITIES OF THE FEDERAL RESERVE BANKS ON APRIL 20, 1938 (In thousands of dollars) LIABILITIES Total Boston New York Phila, Cleve. Rich, Atlanta Chicago St,Louis Minn# Kans.Cy, Dallas San Fran, F.R,notes in actual circulation 4,120,798 311,738 903,230 307,366 Deposits * Member bank — reserve account 7,54-7,076 413,973 3,509,803 40-4,999 U.S.Treasurer - General account 1^27,718 -42,909 652,865 4-5,900 Foreign bank 135,486 9,745 48,732 13,263 Other deposits 213,212 5,620 167,-432 1,603 409,337 191,226 148,570 962,802 177,079 136,931 165,364 78,589 328,566 509,499 208,511 168,351 1^74,058 200,327 110,136 224,841 169,668 51,150 49,569 46,683 208,938 49,374 48,025 44,982 50,096 12,451 5,820 4,737 16,106 4,060 3,113 3,925 3,925 7,452 3,855 2,555 1,3^3 5,287 2,975 478 2,034 552,910 137,227 9,609 12,578 Total deposits Deferred availability items Capital paid in Surplus (Section 7) Surplus (Section 13 b) Reserve for contingencies All other liabilities 580,552 267,755 222,326 1^00,445 259,048 164,249 274,226 225,723 57,560 46,851 22,966 77,651 26,486 16,558 30,470 26,680 13,357 4,949 4,451 13,080 3,897 2,903 4,145 3,938 14,323 4,964 5,626 22,387 4,667 3,153 3,613 3,892 545 1,001 1,142 1,270 1,429 1,007 3,409 730 934 1,776 3,177 l,4oi 1,603 7,229 1,215 1,922. 654 386 498 484 345 519 1,235 985 712,324 31,709 10,149 9,805 TOTAL LIABILITIES 9,323,492 472,247 4,378,832 465,765 586,356 50,625 150,439 48,361 133,489 9,405 50,946 12,269 147,739 9,900 51,943 13,466 27,683 2,874 7,744 4,411 32,915 1,448 8,210 2,000 10,364 763 2,837 843 2,121 2,000 815 14,382,836 859,000 5,554,181 854,481 1,080,298 521,039 406,926 2^86,258 473,323 327,236 480,392 342,213 1,097,489 Contingent liability on bills pur chased for foreign correspondents 1,103 Commitments to make industrial advances 12,825 80 396 108 102 47 39 1,447 4,055 121 1,517 1,507 181 131 WMI 33 25 32 32 78 489 40 295 268 2,905 MATURITY DISTRIBUTION OF BILLS AND SECURITIES Bills discounted Bills bought Industrial advances U. S. Government securities Total Within 15 days 16 to 30 days 31 to 60 days 9,540 550 17,056 2,564,015 7,830 297 1,669 76,209 280 178 153 113,610 589 75 570 321,701 61 to 90 days 1 91 days to 6 months 6 months to 1 Year 283 547 _ 496 225,169 « . — 1,930 144,029 11 mm mm 3,584 126,351 1 Year to 2 Years mm mm 2 Years to 5 Years mm Over 5 Years mm mm 6,684 366,694 mm ------------ -------------- 1,970 573,569 - 6 1 - 6 , 6 8 3 Form FRr-283-d FEDERAL RESERVE HOTE STATEMENT ON APRIL 20, 1938 (In thousands of dollars) Total Boston New York Phila. Cleve. Rich, Atlanta Chicago St.Louis Minn. Kans.Cy. Dallas San Fran. Federal Reserve notes* Issued to F.R. bank by F.R.agent 4,435,562 346,021 1,004,912 326,506 434,139 202,678 165,176 Held by Federal Reserve bank 314,764 34,283 101,682 l9,l4o 24,802 11,452 l6,6o6 In actual circulation 4,120,798 311,738 903,230 307,366 409,337 .191,226 148,570 987,286 189,444 l4l,583 175,259 88,479 374,079 24,484 12,365 4,652 9,895 9,890 45,513 962,802 177,079 136,931 165,364 78,589 328,566 Collateral held by agent as secu rity for notes issued to bank* Gold certificates on hand and due from U. S. Treasury Eligible paper Total collateral 4,527,632 356,000 1,0^.5,000 337,000 438,000 205,000 169,000 1,000,000 191,632 143,500 177,000 91,500 4)4,000 8,472 880 2,588 1,405 570 972 520 210 111 42 406 ¿80 488 4,536,104 356,880 1,017,588 338,405 438,570 205,972 169,520 1 , 000,210 191,743 143,542 177,4o6 91,780 4o4,488
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